Talon Metals Corp. announced a bought deal? private placement of units (the ?LIFE Units?) to raise gross proceeds of CAD 25,300,000 (the ?LIFE Offering?), consisting of 115,000,000 LIFE Units at a price of CAD 0.22 per LIFE Unit (the ?Offering Price?) and non brokered private placement to issue 62,227,274 units at an issue price of CAD 0.22 per unit for gross proceeds of CAD 13,690,000.28; aggregate gross proceeds of CAD 38,990,000.28 on June 9, 2025.
Any securities issued under the Non LIFE Offering to purchasers resident in Canada will be subject to a hold period in accordance with applicable Canadian securities laws, expiring four months and one day following the issue date of the Non-LIFE Units. The Non-LIFE Offering will be completed with certain directors, officers and affiliates of Pallinghurst Nickel International Ltd. Each Unit will be comprised of one common share of the Company (a ?Common Share?) and one-half of one Common Share purchase warrant of the Company (each whole Common Share purchase warrant, a ?Warrant?). Each Warrant will entitle the holder thereof to acquire one Common Share (a ?Warrant Share?) at a price of $0.28 per Warrant Share for a period of 36 months from the closing of the LIFE Offering or Non-LIFE Offering, as applicable.
The securities issued under the LIFE Offering to Canadian subscribers will not be subject to a hold period in Canada. The Offerings are expected to close on or about June 19, 2025, or such other date as the Company and Canaccord Genuity may agree (the ?Closing Date?). The Non-LIFE Offering may close on a date subsequent to or prior to the closing date of the LIFE Offering at the discretion of the Company.
The Offerings are subject to the Company receiving all necessary regulatory approvals, including the approvals of the TSX. The closing of the LIFE Offering is not conditional upon closing of the Non-LIFE Offering, and the closing of the Non-LIFE Offering is not conditional upon closing of the LIFE Offering.
